2020 crv exl -deal check

@mllcb42 @Jeff_BeachCitiesAuto apologies to all on my ignorance on car stuff. I’m not that familiar in general with car financials. So you two think this is a decent deal from a numbers perspective? Would love insights from pros to help me learn.

Deal looks good don’t sweat it

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It looks great!

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Deal is really good, much lower than what you could accomplish in California

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Looks about what one could do in state in PA, you did great!

Hey Everyone - Newbie to Lease here. I live in DE which is zero sales tax FYI. Looking to see If this deal’s sprightly or If I’m being shortchanged- though am giving him the benefit of doubt!

The figures he sent me look really confusing (Putting them all here) and am not able to properly populate my lease calculator but I’ve given it a shot: Lease Calculator Attempt

Honda CRV EXL 2020 36/12000. Delaware
Selling Price: 30797
Tax Amount : 1326
Acquisition Fee : 595
CapCost (Initial) : 32717
CapReduction : -1325
Adjusted Cap Cost : 31392
Base Monthly Payment : 369.16
Monthly Use Tax(2.011%) : 7.42
Total Monthly Payment : 376.58

Cap Reduction : 1325
First Monthly Payment : 376.58
Title,Tags,Misc : 583
Total Due at Inception : 2283.63
App Purchase Option Price : 20317.40

Residual Percentage (Book) : 60
Residual Percentage (Adjusted) : 62
Gross Residual Amount : 20317.40
MF : 0.00119
Monthly Depreciation : 307.63
Monthly Lease Charge : 61.53
Original Taxable Base : 30797
Adjustment : 389
Taxable Base : 31186
Percent : 4.250%

PS : I told him I’m willing to give $1000 Down so am not sure if that is also adjusted in any of these figures.
PS PS : I’m in DE so should there be the 4.250 Tax?

It’s not quite that simple on leases

I see thank you for that. So is thie 4.25% Document fee on the MSRP?

Yes, in addition to the monthly use tax on the payment.

That’s also not to be confused with the doc fee the dealer charges.

Not really. 4.25% on sales price, not MSRP.

Thanks so based on the above - I’ve reworked the calculcator

It comes up to 355 pm as opposed to 376 that Dealer is charging. Is my calulcation still accurate?

No, it is not.

What you should do is determine your sales price, and add 4.25% of that to the gov fees. You’ll then want to apply the use tax to the current sales tax category as that is applied monthly.

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Sorry for the delayed response. Could you explain this a bit more? This stuff went right over :frowning:

You’ll then want to apply the use tax to the current sales tax category as that is applied monthly.

Calculate using a calculator, take your selling price, multiply it by 0.0425, then add that in addition to your registration costs it o government fees.

Then put 2% for your sales tax. Charge that on monthly payment (first option in the list).

Yes Delaware has no sales tax but this is charges on leases.

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Thank you - I think I have most of the figures - is there a list of fees in Delaware I can glean off (document, acquisition fees etc) that you can share? I’ll try to post the final calc’s with the 2% on those which I think I’m missing.
Also is the 2% calculated on the 4.25% Tax Monthly amount or the (4.25% tax Monthly PLUS Fees)?

Acquisition is the same nationally if using Honda financial. Dealer fee, registration, etc vary from dealer to dealer, and even county for registration. You’ll have to get those from your dealer, if you post a deal sheet I’d be happy to assist you in anyway I can.

You’re overthinking this, calculate the documentation fee (4.25% or selling price) and add it to government fees like I said.

Then do this for usage tax.

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2% on the monthly payment.

The 4.25% upfront tax and the 2% monthly tax are independent of each other.

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Yes - the Fees you are most familiar with based on your experience will be MOST helpful :slight_smile: I’ll just put those into the calculator and run the final numbers!

Post a dealer deal sheet if you have it alongside any incentives you qualify for.

@HersheySweet
I don’t have a Dealer Sheet yet (was talking on the phone) - am talking with multiple vendors - looking at both CRV and Nissan Rogue. I find this forum excellent for baseline numbers - dont want to pollute this thread with Nissan Rogue figures but just for the sake of discussion - I am missing the Delaware Fees as I cant seem to find that anywhere) so a ballpark would help for just those fees!
Again appreciate all the help here…this has really de-muddled me aplenty!